LATE COMMERCIAL

Press, Volume LXI, Issue 18423, 2 July 1925, Page 14

LATE COMMERCIAL

TURNIP TAINT IN BUTTER, j MINISTER'S ADVICE TO DAIRYMEN. (special to "the rszss.") WELLINGTON, July 1. Mr Bollard told ;t Taranaki deputation recently that in his opinion dairy cows should not be fed on turnips. Butter from turnip-fed cows might be all right when it left New Zealand, but it had a taint by the time it was placed on tho Home market. His advice to dairy farmers was to use lucerne for winter feeding. Lucerne was splendid feed for them; ho know that from his own experience. The whole country was interested in this question. The producer, he added, was the "kingpin" in tho production of the country's wealth. Mr Nosworthy had informed him that the season drawing to a close had been a very satisfactory one, and promised to constitute a new record. That would be good news for the whole countrv.

AUSTRALIAN CROPS. VALUE OF FALLOWING. (BY CABLE—PRESS ASSOCIATION—COrYKIGHT.) AND N.Z. CABLE ASSOCIATION.) SYDNEY, July 1. Tho Government Statistician haa prepared an interesting report dealing with the effects of fallowing wheat-growing lands. Ho shows that fallowed laud in the Kiverina produced 45, and other districts 17 to 42; per cent, higher yields than stubble land. Tho season generally was a very favourable one for crops. PERTH, _ July 1. A? a result, of tho good rains in agricultural areas, it. is expected that 200,000 acres more than last year will bo sown under wheat. On tho basis of last year's average it is expected that the yield will total over 24,000,C00 bushels. PREFERENCE WANTED. APPLES AND CANNED FISH. (bt cablb—press association— coptbioht.) (eeuteh's tbleobams.) LONDON, July t. Tho Empire Producers' Federation lias submitted memoranda, to the Imperial Economic Pommitteo with reference to the Empire trade in apples and canned fish. Whilo strongly advocating preference on theso articles, which, however, are not within the scope of the conference, the producers insist that whatever is done to assist tho industries should be carried out by a Board representative of producers in all parts of the Empire. They also emphasise tho need for organising the applo producers of the Empire on a basis to prevent the frittering away of money by piecemeal payments, and suggest that all canned fish should bear tho name of tho country of origin.

SHARES. (by cable—press association—copyright.) (australian and n.z. cable association.) LONDON, Juno 30. P. and o.—Buyers £257, sellers £267. Bank of Australasia, £l4 Is fid. National Bank of Australasia-, 155 a. English and Scottish Bank, 738* 9d. National Bank of New Zealand, 134s 6d. Bank of New Zealand, 54s 6d (ex'.div.) New Zealand Loan and Mercantilo (ordinary), £93 10s. WHEAT. (Received July Ist. 8.35 p.m.) LONDON, June 30.

Wheat cargoes are qxueter and sixpence easier, owing to good European crop reports and American weakness. Parcels are in small request at a decline of 6s. Liverpool fxitures: J\ity lis 3jd, October 10s Bd, December 10s ojd. COMMONWEALTH SURPLUS. (BY CABLE—PRESS ASSOCIATION^COPTRIGHT.) (AUSTRALIAN AND N.Z. CABLE ASSOCIATION.) MELBOURNE, July 1. It is estimated that the Commonwealth surplus for the financial year ended yesterday will amount to over £3,000,000. A detailed statement will bo submitted to the House of Representatives as soon as available. N.Z. FARMERS' CO-OP. (SPECIAL TO "the press.") •WELLINGTON, July 1. The suggestion of the Farmers' Cooperative Association of Canterbury that preference shareholders should extinguish the accumulated amount due to them, and relinquish their cumulative rights, does not meet with approval in business circles here, as it is regarded as a dangerous precedent, and likely to affect preferenco shares generally, and would make it difficult in the future for companies to issue such shares. It is probable that tho Wellington Stock Exchange will deliberate on the matter, and accord support to the resolution of the Christchurch Stock Exchange.